The problem 

Despite advances in technology that are improving accessibility, changing behaviours in personal finance is really hard. People rarely switch or alter their habits.

Women often have a smaller pension pot than men and are less likely to take out investments like ISAs. When they do invest, they are more likely to make values-based investments.

The challenge 

How can we make it simpler for women to take climate action with their personal finance? 

What if… we could use the power of peer-support to motivate and inspire women to make change? 

What we did first: we piloted a series of groups to enable women to share their experiences of money in a safe space and support each other to take action. Following testing in London and Bristol we worked with Huddlecraft to train 15 volunteers to host groups in their homes, workplaces, parenting groups or round a table in the pub or cafe.  

The pilot groups launched in April and ran until July 2019. 

What did we test?

Our hunch that building confidence through peer-support and a safe space would help women address the barriers to aligning their own financial choices and security with a liveable planet.  

Different approaches to recruitment and location of groups to understand how the model could scale and what support women might need to set up an OwnIt group without face-to-face training.  

 

An award-winning venture 

Following 18 months of further development, supported by Ethex that included taking the project to COP26, OwnIt was re-branded as Money Movers and licensed to peer-learning experts. Huddlecraft focused on growing the movement and raising the profile of the project, supported by Triodos and interactive investor, as well as Partners for a New Economy, Friends Provident Foundation and the RSA. They explored the business model, running a pilot with Deloitte to test how Money Movers could work in a corporate setting. In January 2024 Money Movers was recognised with a Big Issue Changemakers award.

What we've learned 

It's been challenging to develop a viable business model that keeps Money Movers accessible to women on lower incomes. We want to be clearer about the role that Money Movers can play in making systemic change in the financial system. But hundreds of participants have proved there's a strong desire to feel supported in taking practical action on climate, together. And peer support really helps keep people on track.  

 

Impact to date

Over 375 women and allies have moved more than £3 million for the planet, with a further £7 million of actions planned. 

"I have moved my current accounts to Triodos and Nationwide from Barclays.  I am now investigating where my pensions are invested, and better options for doing so". A group participant.

Quotes from user surveys:

On a scale of 0-10

"I feel confident, capable and able to make things happen" = 8.25 (up from 5.7)

"An incredible programme. Of all the attempts at behavioural change initiatives I have seen, this model wins. An innovative, thoughtful approach to an age-old problem" Kate Ford  

What's next for Money Movers?

From spring 2024, Money Movers will be returning ‘in-house’ to Friends of the Earth while we conduct a review and decide how best to support the project to achieve its potential.  Huddlecraft will continue to act as delivery partner for Money Movers and will be implementing the programme within companies and organisations. Want to know more?   

Money Movers